What crisis ?

SOLD (April 2009)
M/Y Heesen "Blowzy"
M/Y African Queen D
M/Y Fansea
M/Y Silver...

STILL FOR SALE
M/Y Thunder...

RUSSIAN MARKET
Riva, a subsidiary of Ferretti Group, launched a Russian language website
>> Riva

A BROKER's POINT OF VIEW
"We are now seeing around 50% of enquiries coming from emerging markets, up from around 25% in 2007, in places like Singapore, Ukraine, Turkey and Belarus."
David Tydeman, chief executive of UK-based Oyster Marine

Has the yacht ownership reached a turning point?

YachtPlus launches its first Foster + Partners designed super-yacht

The fractional ownership super-yacht company, YachtPlus, launches its first yacht – The Ocean Emerald – in La Spezia, Italy on April 25 in the presence of Norman Foster.





This contemporary 41 metre yacht has been designed with a strong emphasis on space and light and has five suites for up to 12 guests, who will be looked after by a permanent, highly trained crew of seven.





The internal planning of the yacht offers total flexibility to respond to the diverse requirements of the owners and their guests and keen attention has been paid to design and detail ranging from the internal (2,790sqft) and external (2,495sqft) areas to cutlery, crockery, fabrics and crew uniforms. All furnishings and fittings are provided by the Italian manufacturer Cassina and kitchen and galley equipment by Schiffini.



All arrangements from bookings to transport, private jet, helicopter transfers and onboard requests will be taken care of thereby further enhancing the ultimate experience in hospitality, service and luxury.

Ocean Emerald will be the first of four identical Foster + Partners designed super-yachts to be launched by the company over the next two years. The second yacht, Ocean Pearl will enter service in the autumn 2009 and the third, Ocean Sapphire in the early part of 2010. The fourth yacht, as yet unnamed, is scheduled to launch in the latter part of 2010.

According to the Wealth Bulletin, "the 164-foot super-yacht designed by world famous architect Sir Norman Foster has attracted a waiting list of 20 buyers who will each pay at least €2m for an eighth of the boat."

At the moment, as far as we know, none of the big 4 yacht brokerage companies (Burgess yacht, Edmiston, Camper & Nicholson, Fraser Yachts) offer the YachtPlus program to their clients...

Superyacht reef damage = huge fine!

The Superyacht "Azteca" at anchor

According to the San Pedro Sun, "Ricardo Salinas Pliego, a Mexican billionair, has been ordered to pay a huge price after his luxury mega yacht anchored on the reef on April seventh. The Department of Environment has concluded their assessment of the damages caused by the luxurious mega yacht, Azteca on the reef near San Pedro Town.

Captain Eckart told authorities that that the vessel was drifting towards the reef after a rope tangled in the propeller, causing it to automatically shut down. He went on to explain that he had to drop anchor to avoid running aground.
The owner, Salinas Pliego is a well known billionaire and owner of the Mexican television station, Azteca, and the chain of appliance stores, Electra. "

"Azteca" was design by M. Leach Design Ltd and built by Nereids Yachts in 2005, her sistership Arethusa is currently for sale.

>> San Pedro Sun

Nourah of Riyadh: the 65m Turkish super yacht

The Nourah of Riyadh, the megayacht produced in the Kocaeli Free Zone, was delivered to its owners with a ceremony Friday.

The yacht, design by D. Starkey, which cost 40 million euros, will be used by Saudi Prince Mohammad Bin Abdulaziz.

>> Shipyard pictures

M/Y Silver...sold by BRS/YPI !

Who said that the superyacht market was facing a storm ?

Following the recent sale of the 50m Christensen "Casino Royal" by OCI, Yachting Partners International announces the sale of M/Y "Silver", the 74m (243ft) Espen Oeino-designed superyacht built by Hanseatic Marine in Australia.

According to IBINews, "The brokerage deal, believed to be the largest the yachting industry has seen since September 2008, was pulled together in record time and with minimum fuss, contradicting rumours of falling sales in luxury goods and of large yacht builders filing for creditor protection".

Powered by two 16V-4000 MTU engines, M/Y "Silver" effortlessly tops 25:27 knots and achieves transatlantic distances at 18 knots...

The vessel is classified by Lloyds and built to SOLAS passenger ship specifications, so instead of being limited to 12 guests, she has accommodation for 18, including Pullman berths. The superyacht was for sale at euros 64,500,000.

BRS Yachting, a subsidiary of the BRS Group, a large international ship broker company, acquired Yachting Partners International in September 2008.

Picture of the day: Leo Fun

Click to enlarge

Design by Paolo Caliari and launched in January 2009, "Leo Fun "is the sistership of "Vinydrea" and the second 53m explorer vessel built by the turkish shipyard Protelsan Turquoise.
Built in steel and aluminium to ABS class and fully MCA compliant, the superyacht achieves a top speed of 16 knots thanks to two Caterpillar 3512B engines, each producing 1,750hp.
The yacht was spotted in Monaco Port Hercules and will be available for charter through Charter & Charter.
Her sistership "Vinydrea" is currently lying in Cannes (Vieux port) and is for sale through Edmiston: the asking price is euros 23,500,000.

Picture of the day: Leopard 46m

Click to enlarge

The Leopard 46m "Pure One" was at anchor in the baie de Cannes today.

Designed by Andrea Bacigalupo "Pure One" is the first hull built by Arno shipyard for Rodriguez Group. She features a blue hull with a very modern interior by Cristiano Gatto Design.
With a triple waterjet propulsion system and 3x2,200 hp MTU diesel engines, she can reach a top speed of 32 knots.

Tycoon buys €50m yacht as the economy sinks

The Times posted an interesting article about Michael Smurfit' new yacht.

What recession?
Michael Smurfit, the packaging tycoon, is awaiting delivery of a €50m superyacht, provisionally called Lady Ann Magee II, that will dwarf the luxury vessels owned by the rest of Ireland’s super-rich.

>> Times online

Thought of the day...

“It’s nice to have these things, but you can definitely live without them"
Jon Asgeir Johannesson, ex-Owner of a 50m Heesen, Baugur boss

Panoramic picture: Monaco Port Hercule

Click on the picture to enlarge

This is a panoramic picture of Monaco Port Hercule just before the 2009 F1 Grand Prix.

From the right to left of the picture we can recognize the following yachts :

• MY My Shanti
  
• SS Delphine
  
• MY Lady Moura
• MY 007
• MY Pacha III
  
• MY Lady Christine
• MY Capella C
• the Perini Navi Independence
• MY The One
• MY Zenobia
• MY Flying Eagle
• MY Meamina
• MY South
• MY Wedge Too...and many other superyachts!

German Entrepreneur Christens Yacht As Workers Take Pay Cuts

February 2009
According to the German newspaper Der Spiegel "Regardless of the economic crisis that has led to cuts in pay and working hours at his firm, German billionaire entrepreneur Reinhold Würth has christened his new luxury yacht..."

Vibrant Curiosity, hull Y704 and fourth superyachts in the successful "Y series", was built by the Dutch shipyard Oceanco.
Lengt: 85m
Design: Nuvolari & Lenard/Azure Naval Architects
Top speed: 18.5 knots
Range: 5,000 nautical miles

According to the Oceanco website, the yacht has many unusual features including an astonishing amidship atrium.

>> Spiegel

Florida legislators push tax break for buyers of planes, boats

"...Anybody with capital to invest in the state of Florida, where jobs can be created, I want them here. I want their money here. I want their planes here. I want their boats here..."

Article published on St Petersburg Times
By Alex Leary, Times/Herald Tallahassee Bureau
>> Tampabay.com

Yacht broker Robert Moran yesterday pleaded guilty to tax fraud

Published by IBINEWS

Yacht broker Robert Moran yesterday pleaded guilty to tax fraud in the Federal District Court in Ft Lauderdale, Florida. Founder and CEO of Moran Yacht and Ship, Moran is the second client of Swiss Bank UBS who has been indicted in an investigation by US authorities of illegal offshore banking practices. Moran's brokerage and charter firm has offices in Ft Lauderdale and Moscow.

Moran's attorney, William McCarthy, told the New York Times that he would not comment on his client's case.

Moran, who admitted that he held a UBS account worth US$3.4m that he did not report on his tax returns, agreed to pay back taxes, interest and penalties. According to Bloomberg.com, Moran set up the account as Winter Drive Investments SA, a Panamanian corporation, in 2000.

Moran was released on a US$6m bond. Sentencing has been scheduled for June 26. Moran could face jail time of up to three years.

In February, the US government made an agreement with the world's largest private bank to turn over US citizens hiding income in exchange for avoiding prosecution. UBS also paid US$780m in penalties, admitted it helped taxpayers hide money in Swiss accounts, and strengthened its compliance programmes. The bank also turned over 250 client names to the US Internal Revenue Service.

"We will continue to prosecute those who use offshore schemes to avoid paying their taxes," said R Alexander Acosta, US attorney for the Southern District of Florida, in a statement.

He is the second UBS client to be arrested by the Justice Department. Steven Michael Rubinstein, an accountant in Boca Raton, Florida, who is also involved with the marine industry, was also charged with filing a false and fraudulent tax return.

Authorities have opened more than 100 criminal investigations of UBS clients, some of whom are notable names on Wall Street, according to the New York Times. The bank admitted that it helped clients hide more than US$20bn worth of assets.

Superyacht picture "Lady Christine"

Click to enlarge

The 55m Oceanco "Lady Christine" spotted while docking in Port Hercule this morning.
The yacht built by the Oceanco shipyard in 2004 was offered for sale for euro 45,000,000 by Edmiston Company in 2008.

Tough times for the yachties...

Pirates...or poor fishermen?

PIRATES
Seychelles deploys troops after pirate attacks
>> Reuters

Somali pirates take French yacht, hijackings surge
>> Google news

Who is the next one and what will be the consequencies on the charter business?

TAXES
Following the French and the Dutch authorities, Bulgaria's National Revenue Agency (NRA) said it will investigate the purchase of more than 230 yachts in an effort to root out fraud and boost tax collection...
In the USA, a proposal by New York Governor David Paterson to include a five percent tax on boats over US$200,000 did not make it into the final budget. Paterson and leaders in the New York legislature have finalised the 2009 state budget without the luxury tax on boats.

>> IBI News

MADOFF
"Bull", the Leopard 27m lying in Port Gallice that belongs to Bernie Maddoff was seized by French investment firm Meeschaert.

2009 Antibes Yacht Show

Day 1: rain...and yacht brokers but no clients


Day 2 and 3: MY Shanti for sale with Merle Woods for $US103,000,000...


Crew at work ...;-))

Yarn: "The 35m Benetti Classic XXX was launched in 2000 and refitted in 2007/8. This elegant semi-displacement superyacht with state of the art technology has a transatlantic range and is offered for sale and charter..."

The 2009 Antibes yacht Show was very quiet and there were more yacht brokers and yacht beverage and food suppliers than potential buyers...